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Here are the 2013 and 2014 (incomplete) balance sheets for Newble Oil Corp BALANCE SHEET AT END OF YEAR (Figures in S millions) Assets Current
Here are the 2013 and 2014 (incomplete) balance sheets for Newble Oil Corp BALANCE SHEET AT END OF YEAR (Figures in S millions) Assets Current assets Net fixed assets 329 515 Current liabilities 1,390 1,515 Long-term debt 2013 2014 Liabilities and Shareholders' Equity 2013 2014 305 259 925 1,110 a. What was owners' equity at the end of 2013 and 2014? (Enter your answers in millions.) 2013 Owners' equity million million b. If Newble paid dividends of $195 million in 2014 and made no stock issues, what must have been net income during the year? (Enter your answer in millions.) Net income million c. If Newble purchased $395 million in fixed assets during the year, what must have been the depreciation charge on the income statement? (Enter your answer in millions.) Depreciation charge million d. What was the change in net working capital between 2013 and 2014? (Enter your answer in millions.) Change in net working capital million e. If Newble issued $238 million of new long-term debt, how much debt must have been paid off during the year? (Enter your answer in millions.) Outstanding debt million
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